MrRenev

Emerging markets taking a pounding

Long
MrRenev Updated   
FX:USDTRY   U.S. Dollar / Turkish Lira
While the emotional crowded is full focussed on the S&P, CoronaVirus, Crypto, "exotic" currencies are all dropping hard.

Economic slowdown ==> The poor end up in the street first.

Turkish people really hate it when I call their country a third world country. They are in denial poor guys, and have been for decades.
Just the way it is not my fault. Parts of europe are too, greece, portugal african country at this point, spain on its way, then the rest of europe. RIP.

The monthly chart is pretty clear... It would be pretty nice to get a retrace I only do reversals.
I think I understand how going with the trend is, it is much much more forgiving but you very often get small reward to risk.

This is not financial advice but it's looking like it is just going to continue and continue and continue.
If you long this pair there is big interest against you... Kinda ruins it I feel.

In the short term there may be some explosive moves to buy, idk...

I guess I was right the first time:


Other ones



I bet when normies / plebes start hearing of those, or seeing how much they moved they'll get all excited and there will be an assault of legions of reptilian brains and wild moves in random directions, but for now they are rather tame with normies focussed on coronafartinthewind, maybe still brexit a bit, crypto still, and "CO2 is a pollutant" joke of the millenia (Tesla in particular).

Real speculators want tame markets, predictable and calm (well volatile but not hysterical).
Losers chase the most emotional markets they heard about on the news.

I am here to make money, not to talk about the latest popular fad with my family or friends (don't have any).
Comment:
Erdogan is tired of having to pay for millions of refugees and letting broke EU know.
He might be getting a few billions from those suckers.
Interesting story, eager to see how it develops.

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